Philly Fed Dead-Cat-Bounce Dies, Plunges Back Into Contraction
by Tyler Durden
ZeroHedge.com
04/21/2016
Remember March and all those hopefull regional fed survey bounces? They are over! Philly Fed just printed -1.6, back into contraction for the 8th month of last 9, missing expectations of a +9.0 print. Every subcomponent weakened (aside from prices paid and received) but what saved the headline from further collapse was an unexpected surge in optimism for six-months ahead (right after the election?).
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